The medical business is a field that requires not only high-quality services but also efficient financial management. For dental clinics and private healthcare facilities, proper accounting is not just an obligation but an essential tool for ensuring legal compliance, managing expenses, maximizing profits, and maintaining business stability.
A professional accounting team that understands the specifics of the healthcare sector helps clinics address numerous challenges: from complex tax accounting to managing equipment and material costs. A reliable accounting system allows medical professionals to focus on what matters most — patient care.
Specifics of Accounting for Dental Clinics and Private Medical Facilities
Why medical institutions require specialized accounting
The medical business has a number of distinctive features that affect accounting. Clinics need to pay attention to:
- use of medical consumables (filling materials, instruments, medications);
- payroll for doctors, nurses, and support staff with consideration of their work specifics (on-call shifts, night duties, call-outs);
- expenses for rent, equipment depreciation, and procurement of new supplies;
- taxes, including benefits and special rules for medical services.
A professional accounting team specializing in healthcare knows all the nuances of legislation and reporting, helping avoid mistakes and penalties.
Main Accounting Requirements in the Healthcare Sector
Compliance with accounting standards for medical organizations is mandatory. This includes:
- proper accounting of medical equipment and material costs;
- allocation of income across different service types;
- timely submission of tax reports and payment of obligations.
Key Accounting Services for Dental Clinics and Private Medical Facilities
Income and Expense Accounting
Dental clinics and healthcare facilities generate revenue from various sources:
- payments from patients — private fees (dentistry, cosmetology, therapy);
- income from insurance companies;
- government funding programs or grants.
Main types of expenses for dental and medical clinics include:
- purchase of consumables and medications;
- maintenance and repair of equipment;
- rent and facility upkeep;
- administrative costs (salaries, office supplies, marketing, etc.).
Properly organized income and expense accounting allows clinics to:
- control the profitability of each business segment,
- optimize expenses without compromising service quality,
- plan future budgets,
- increase financial transparency for owners and investors.
Payroll and HR Accounting
Compensation in clinics often depends on service complexity, night shifts, or on-call duties. Accounting ensures:
- timely salary payments;
- accurate payroll calculation, including additional compensation for shifts or call-outs;
- tracking of employee leave and sick days.
Accurate payroll depends on proper HR management, which includes maintaining employee records, processing hiring and termination, tracking vacation balances, managing bonuses and compensations, and ensuring compliance with labor laws.
Tax Accounting and Optimization
Tax obligations for dental clinics and medical facilities depend on the taxation system chosen and may include corporate income tax or simplified tax, social contributions, VAT, and other fees. Professional accountants help:
- prepare and submit accurate tax reports on time;
- identify legal ways to optimize taxes;
- take advantage of available healthcare-related tax benefits.
Preparation for Tax Inspections and Audits
Reliable accounting support ensures a clinic is always ready for inspections by:
- preparing necessary documentation,
- preventing mistakes in reporting,
- minimizing the risk of penalties and sanctions.
Key Aspects of Income and Expense Accounting in Dentistry and Clinics
Revenue from Specialized Services and Procedures
Clinic revenues vary depending on service types. Proper accounting is crucial for insurance reimbursements, private payments, or government-funded programs.
Consumables and Equipment Accounting
Every material used in a dental clinic must be documented. This helps track actual expenses and plan purchases. Equipment depreciation is a vital cost element since it affects accurate calculation of medical service costs.
Fixed and Variable Costs Accounting
This category includes rent, utilities, and administrative expenses. Tracking these costs helps maintain budget control and financial planning.
Advantages of Professional Accounting for Dental Clinics and Private Facilities
Risk Reduction and Avoidance of Penalties
Accurate accounting minimizes legal and tax risks. Proper documentation ensures confidence and peace of mind.
Expense Optimization and Revenue Management
Smart cost allocation enables clinics to manage finances more efficiently, improving profitability even in challenging economic conditions.
Regulatory Compliance
The healthcare sector is subject to frequent legislative changes. Professional accountants monitor these updates and adapt accounting practices accordingly.
Benefits of Partnering with UHY Prostir
Experience and Expertise in Healthcare
UHY Prostir has many years of experience working with medical institutions. Our reputation and client trust are our top priorities.
Flexibility and Tailored Solutions
Every clinic receives a customized solution suited to its needs and scale. We assist both small private practices and large medical centers.
Comprehensive Support at Every Stage
We support clients from consultations to tax inspections, providing a full cycle of accounting services.
How to Order Accounting Services for a Dental Clinic or Private Medical Facility
- Fill out the form on the UHY Prostir website.
- Receive a consultation and assessment of your business needs.
- Sign a contract for accounting services.
